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Use the following information to answer this question. The following is a summary of the...

Commerce
JAMB 2019

Use the following information to answer this question.

The following is a summary of the asset and liabilities of Ojo trading company as at 31st December, 2018

Initial Capital 5000
Net Profit 1000
Furniture 2000
Equipment 2900
Debtors 100
Stock 1000
Bank 500

 

From the above, calculate Current assets


 

  • A. 1600
  • B. 1060
  • C. 1500
  • D. 600
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Correct Answer: Option A
Explanation
Current Assets     N
Debtors 100
Stock 1000
Bank 500
  1600

 


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